A major class action settlement involving Credit One Bank is making headlines as the company agrees to pay $14 million to resolve allegations of unauthorized robocalls and unfair billing practices.
If you held a Credit One account between 2014 and 2019, or received automated calls from the bank without your consent, you may be entitled to a payout ranging from $100 to $1,000.
Though Credit One has denied any wrongdoing, the settlement is a clear response to years of consumer complaints and legal pressure.
What the Credit One Bank Settlement Covers
This class action lawsuit focused on two key areas:
- Unauthorized Robocalls: The bank allegedly placed automated calls to consumers’ phones without prior consent—some even to people with no account history—violating the Telephone Consumer Protection Act (TCPA).
- Unfair Billing Practices: Affected customers reported unexpected interest rate hikes, hidden fees, and unauthorized charges, resulting in significant financial burden and confusion.
By agreeing to settle, Credit One Bank avoids further litigation while offering affected customers a chance to recover part of what they lost.
Who Is Eligible for a Settlement Payout?
You may qualify for compensation if you meet either of the following criteria:
- You received robocalls from Credit One Bank between 2014 and 2019
- You held a Credit One account during that period and experienced:
- Sudden interest rate increases
- Hidden service fees
- Unrecognized or unauthorized charges
If you meet one or both conditions, you’re encouraged to submit a claim when the process officially opens.
Estimated Payout Amounts & Fund Details
The total settlement fund is $14 million, with approximately $9 million allocated for eligible claimants after administrative and legal fees are deducted.
Credit One Bank Settlement Payout Breakdown
| Settlement Detail | Amount / Status |
|---|---|
| Total Fund | $14 million |
| Estimated Payout Pool | ~$9 million |
| Individual Payout Range | $100 – $1,000 |
| Payment Method | Direct deposit or mailed check |
| Claim Deadline | To be announced |
| Payout Date | TBD (monitor official updates) |
The final payout you receive depends on how many people file valid claims and the specific details of your case with Credit One.
How to File a Claim
Filing is straightforward, but only once the official claims website goes live. Here’s what you need to do:
- Watch for a claim notice by email or mail – this will include your unique claim number.
- Visit the official settlement website (URL to be confirmed).
- Complete the claim form with accurate personal and account information.
- Select a payment method – either direct deposit or check.
- Submit before the deadline (yet to be announced).
Important: Only file through the official site. Do not submit claims through third-party sites, as this could lead to fraud or data loss.
Red Flags to Avoid
To protect yourself during the claims process:
- Avoid unofficial websites pretending to represent the settlement
- Never share your bank details unless it’s on the secure, verified claims page
- Don’t ignore claim notices — they may look like promotional mail but are legitimate
Why the Credit One Settlement Matters
Credit One Bank serves millions of subprime credit customers across the U.S. For years, it has been criticized for lack of transparency, aggressive fee structures, and poor customer service.
This settlement, while not an admission of guilt, acknowledges the widespread nature of the complaints and gives affected individuals a chance for justice and financial restitution.
For consumers, it’s not just about the money—this is a signal that big banks are being held accountable, and that consumer voices matter.
FAQs
How much will I get from the Credit One settlement?
Eligible claimants could receive between $100 and $1,000, depending on their case and the total number of claims submitted.
Who qualifies for the settlement payout?
Anyone who either received robocalls from Credit One or held an account between 2014 and 2019 and faced unfair charges or fees.
When will payments be made?
A specific payment date has not yet been announced, but updates will be shared via the official settlement website once claims open.